Debt is debt, right? Well, yes and no; whilst owing money is debt, there is secured debt and unsecured debt, both of which have their pros and cons. In some cases, you may not be able to access unsecured debt as lenders need collateral to lower the risk of lending money to you. In other [...]
There are many reasons why you’d want to dissolve a company, whether it is solvent or insolvent. Closing down a limited company with or without debts is a cost-effective way of removing a dormant company from Companies House and doesn’t require the need for liquidation. Dissolving a limited company, also known as voluntary dissolution, removes [...]
Every three minutes in the UK, someone is diagnosed with dementia. However, family members are unable to access their finances or do anything about their home and care unless the court has granted them authority through a Power of Attorney (PoA) or a Lasting Power of Attorney (LPA). As people get older, they may not [...]
Nobody can deny that the past 18 months have been some of the toughest times ever for businesses across the world. The Covid-19 pandemic forced companies, firms and organisations into adapting to completely different work environments, economies and implementing new technology. But, as nations around the world are emerging from the worst economic climate since [...]
When you die, any possessions, cash, property or other assets you owned are known as your ‘estate’. In most cases, your estate will need to be administered to comply with legal requirements in terms of carrying out your wishes in your will, making sure the beneficiaries receive what has been left to them, as well [...]
Shareholders of a company receive annual dividends as a return on their investment. A company pays the dividends from their trading profit, known as their retained earnings, after Corporation Tax has been deducted. What are liquidating dividends? Dividends are a share of a company’s profits that is paid to shareholders, usually annually, based on the [...]
There are businesses the world over who aspire to be debt-free. It’s that ideal, that dream of no money worries, which drives many business owners. But is being debt-free really all it’s cracked up to be? Whilst it may be the position so many strive for, in reality it’s not always the best option. What [...]
Nobody likes being in debt; if you are personally or professionally in financial trouble, the sooner you seek help from a debt consolidation expert, the quicker the problem can be resolved and agreements to pay back creditors put in place. However, if the debt consolidation expert you choose to work with is not reliable or [...]
A members voluntary liquidation in the UK is a formal process to close a company and must only be entered into if solvent, i.e. there are sufficient funds to pay their debts including tax liabilities and any contractual obligations. So, why close the company? There are a number of reasons why directors of a solvent [...]
If you are an investor with shares in a company, there’s always the possibility that the company may go into liquidation. If the company is solvent and it’s a case of winding up the company because it is no longer needed, or the owners wish to retire and there’s no-one to take over, as a [...]
